2010 was a much improved year for America's insurance industry after suffering through 2009, which was a terrible year. During the last few years, write offs in the insurance industry occurred in record amounts. Overall this helped to push insurance rates down. Tough competition and company consolidations were also prevalent, which helps reduce rates as well across the board in order to attract and keep customers. It appears at this point that the worst is behind us. Over the next several years consumers can expect to see life insuran
[ read more » ]January 28, 2010 | Featured | Pamela Spencer | No Comments
It was a compelling and simple pitch, and it came right after the new year with all those well intended resolutions still fresh in many people’s minds. The pitch was $1 will buy $50,000 worth of life insurance. If you were thinking about getting life insurance, then the email you received from Oklahoma City-based Global Life and Accident Insurance might have caught your eye.
Read MoreJanuary 25, 2010 | Featured, Young People | Pamela Spencer | No Comments
If you were to ask if single people without dependents need to get life insurance, most people would say no. However as with most financial decisions, things are just not that black and white. If you are a 30-something single person living alone and have no children it might seem like a big waste to buy term life insurance. Who are you going to leave your money to after all? You don’t the issue of having any children or a spouse depending on your income. That is very true, however there is a very interesting fact regarding life insurance that place people who put off buying it at a big disadvantage.
Read MoreJanuary 21, 2010 | Featured | Pamela Spencer | No Comments
If you plan to ever buy life insurance, either whole life or term, chances are you will be required to take a medical exam. Medical exams for insurance are typically conducted by paramedicals. These are health professionals that are licensed. Often paramedicals are independent contractors that insurance companies hire to visit you in your home.
Read MoreJanuary 18, 2010 | Featured | Pamela Spencer | No Comments
Usually employers offer their employees job benefits as a way of not only enticing people to come to work for their company but also to retain their employees. Benefits such as vacation time, health insurance and life insurance are all benefits that employees are attracted to and also expect these days. When it comes to life insurance, relying too much on what is provided by your employer may be detrimental and not sufficient to meet your individual and family needs. There are several reasons why the life insurance that is issued by your employer may not meet all of your needs.
Read MoreJanuary 14, 2010 | Featured | Pamela Spencer | No Comments
Many people have charitable goals they would like to achieve. We want to repay our debts to society for all the benefits we have received as well as give back to organizations who have given so much to us and to others. Many of us might feel a little frustrated. We might want to make a significant contribution but feel we can’t afford it. There is a common misconception that the only meaningful charitable giving is done by the wealthy. However, that isn’t always true.
Read MoreJanuary 11, 2010 | Featured | Pamela Spencer | No Comments
Discontinuing payment on your life insurance policy can have variable consequences. The reason for the variability is due primarily to the wide range of different insurances plans that are available. There can also be differences in company provisions and policies. Insurance companies may consider the insurance police as lapsed or for cash value insurance plans there could be non-forfeiture options. Before you invest in any insurance plan you need to clarify this issue. Here are the different outcomes that can result when you discontinue payments on your life insurance policy.
Read MoreJanuary 7, 2010 | Featured | Pamela Spencer | No Comments
A few years ago the business that I had helped to establish was forced to close down. I remember that night well. I had sunk all of my savings into that business and it had thrived. However in 2003 when the bombs began to fall in Baghdad, our largest client ended up canceling their contract and two of our other larger customers went out of business. My creditors, of course, didn’t really care what the reasons were of why I wasn’t getting paid. All they were interested in was getting paid themselves.
Read MoreJanuary 4, 2010 | Featured | Pamela Spencer | No Comments
Compare and research difference life insurance companies
First of all you will want to find out if the agent or insurance company you are dealing with is commission-based or fee-based. Depending on the insurance company, the agent you are working with may earn more of a commission depending on the amount of life insurance you purchase. Or another possibility is that the agent receives a flat fee commission, and it doesn’t increase based on how many different products the insurance agent sells. As you are looking at insurance companies, keep in mind their history as well as their performance ratings in terms of customer service.
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